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TODAY’S S&P 500 SET-UP – January 27, 2014


As we look at today's setup for the S&P 500, the range is 46 points or 0.63% downside to 1779 and 1.94% upside to 1825.         

SECTOR PERFORMANCE

THE HEDGEYE DAILY OUTLOOK - 1

THE HEDGEYE DAILY OUTLOOK - 2

 

EQUITY SENTIMENT:

 

THE HEDGEYE DAILY OUTLOOK - 10                                                                                                                                                                  

 

CREDIT/ECONOMIC MARKET LOOK:

  • YIELD CURVE: 2.40 from 2.38
  • VIX closed at 18.14 1 day percent change of 31.74%

MACRO DATA POINTS (Bloomberg Estimates):

  • 10am: New Home Sales, Dec., est. 455k (prior 464k)
  • 10:30am: Dallas Fed Mfg Activity, Jan., est. 3.2 (prior 3.1)

GOVERNMENT:

    • Conferees negotiating agriculture law have been told to come back to Washington early today to try to get bill through House this week, Bloomberg News reported

WHAT TO WATCH:

  • AT&T gives up right to offer to buy Vodafone within 6 months
  • Vodafone said to seek purchase of Ono before planned IPO
  • Liberty Global agrees to buy Dutch cable provider Ziggo
  • Apple scheduled to report 1Q results after close of trading
  • Apple said to be exploring mobile-payments system expansion
  • BofA swaps desk investigated by CFTC, DOJ, filing disclosed
  • Google to buy artificial-intelligence co. Deepmind: Re/code
  • Samsung, Google sign agreement to license each other’s patents
  • YRC wins key refinancing ingredient with union vote, Welch says
  • Japan posts record annual trade deficit as import bill soars
  • ICBC offers clients option to recoup funds in troubled trust
  • Ukraine crisis deepens; power-shr bid fails to end protests
  • German business confidence beats estimates on growth outlook
  • U.S. East set for another Arctic blast as snow heads for Texas
  • Universal’s ‘Ride Along’ tops box office with $21.2m
  • Tesla finishes L.A.-to-New York electric Model S drive chargers
  • Disney’s ESPN seeking profit with online video demand: WSJ
  • Diageo speculated to consider bid for Brown-Forman: Times
  • AT&T meets with EU on possible acquisitions, NSA role: WSJ
  • Altegrity said to resume talks on sale of HireRight: Reuters
  • Easton-Bell Sports seen likely to sell some brands: NY Post
  • Boeing Set to Face Additional Safety Checks on 767 Jets: WSJ

AM EARNS:

    • American Electric Power (AEP) 6:57am, $0.57
    • Caterpillar (CAT) 7:30am, $1.27 - Preview
    • Rayonier (RYN) 8am, $0.52
    • Roper Industries (ROP) 7am, $1.61
    • Royal Caribbean Cruises (RCL) 8:31am, $0.18 - Preview

     PM EARNS:

    • Apple (AAPL) 4:30pm, $14.07 - Preview
    • Ashland (ASH) 5pm, $1.31
    • Brookfield Canada Office (BOX-U CN) 5pm, $0.42
    • Crane Co (CR) 5:48pm, $1.03
    • Graco (GGG) 4:10pm, $0.76
    • Olin (OLN) 5pm, $0.29
    • Plum Creek Timber (PCL) 4:01pm, $0.28
    • Rambus (RMBS) 4:05pm, $0.14
    • Rent-A-Center (RCII) 4:15pm, $0.74
    • Sanmina (SANM) 4:02pm, $0.38
    • Seagate Technology (STX) 4:01pm, $1.39
    • Steel Dynamics (STLD) 6pm, $0.25
    • STMicroelectronics (STM IM) 4:46pm, $0.02
    • Swift Transportation (SWFT) 4:02pm, $0.35
    • U.S. Steel (X) 5:15pm, $(0.26)
    • Zions Bancorp. (ZION) 4:10pm, $0.43

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Copper Advances as Business Confidence Strengthens in Germany
  • Brent Crude Drops Amid Concern of Slowing Emerging Market Growth
  • Gold Bulls Boost Bets Amid Longest Rally Since 2012: Commodities
  • Platinum Falls for Second Day as Talks Resume to End Strike
  • Sumitomo Sees Nickel Glut Shrinking 43% on Indonesia Ban, China
  • China’s Gold Shipments From Hong Kong Climb to a Record in 2013
  • Rebar Falls on China Growth Concern as Margin Requirements Rise
  • Gold Mint Running Overtime in Race to Meet World Coin Demand
  • Hedge Funds Most Bullish on Gas Since 2006 After Freeze: Energy
  • Wheat Rises Amid Concern U.S. Freezing Weather May Damage Crops
  • Natural Gas Trades at Highest Level in Four Years on U.S. Cold
  • Meat Diet in China Means Record Corn Imports: Chart of the Day
  • Less Thermal Coal From U.S., Colombia Aids Market: Bull Case
  • India to Review Gold Import Curbs in March on Deficit Control

THE HEDGEYE DAILY OUTLOOK - 5

 

CURRENCIES

 

THE HEDGEYE DAILY OUTLOOK - 6

GLOBAL PERFORMANCE

 

THE HEDGEYE DAILY OUTLOOK - 3

THE HEDGEYE DAILY OUTLOOK - 4

EUROPEAN MARKETS

 

THE HEDGEYE DAILY OUTLOOK - 7

ASIAN MARKETS

 

THE HEDGEYE DAILY OUTLOOK - 8

MIDDLE EAST

 

THE HEDGEYE DAILY OUTLOOK - 9

The Hedgeye Macro Team